REUTERS: The Sri Lankan rupee ended weaker yesterday due to dollar demand as importers purchased the greenback after the local currency’s recent gains, sources said; while stocks slipped from a 3-1/2-week high hit in the previous session. The curr

The Cabinet of Ministers has approved a proposal by the Tourism Minister to issue visa on arrival to tourists visiting Sri Lanka from 39 countries. Cabinet has also decided to issue these visas on gratis basis as an incentive to attract tourists. Th

The Asian Development Bank yesterday made a rather optimistic forecast on Sri Lanka’s economic growth for this year and the next, although the development lender admitted the ongoing scheduled power cuts and freak weather haven’t been factored in

National carrier, SriLankan Airlines plans to expand its route network in Europe, Africa, the Middle East, South Asia, the Far East and Australia and make Sri Lanka a strategic hub for air travel and air cargo in the Asia-Africa-Middle East region un

The United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) yesterday called on the Asia Pacific region to prioritize ambitions beyond economic growth so that the Sustainable Development Goals (SDGs), in its entirety, are ful

(Colombo) REUTERS: The Sri Lankan rupee ended 0.5 percent weaker yesterday due to importer dollar demand, but greenback inflows from inward remittances ahead of the traditional New Year capped further decline, while stocks jumped 1 percent,

(Colombo) REUTERS: Sri Lanka’s Central Bank is expected to leave its key interest rates steady on Monday, a Reuters poll showed, but analysts aren’t ruling out an easing as the rupee steadies and policymakers aim to boost economic growth ahead of

‘Mirror Business S&P SL20 Insights’ is conducted in collaboration with the Colombo Stock Exchange (CSE) as an investor relations initiative. The column encourages S&P SL20 companies to bring attention to the developments in the industry, company

Sri Lanka is widely recognised for its rapid development progress—as shown by various development indicators—but underperformance on growth. The country’s growth slowed to 3.2 percent in 2018.

The Board of Investment (BOI), within this week, is expected to sign the 50-year lease agreement with Silver Park International (Pte) Ltd, a Singaporean investment vehicle owned by India’s Accord Group, to formally handover the 200 acres of land al

The government and Central Bank in lockstep are pushing the banks to cut rates and deploy more funds as loans to the micro, small and medium enterprise (MSME) sector as the authorities attempt to reinvigorate the economy, which has lost its momentum.

Sri Lanka’s largest tyre plant, Rigid Tyre factory in Horana, is scheduled to begin its operations this November with over 65 percent construction of the plant already being completed, Development Strategies and International Trade Deputy Ministry

(Colombo) REUTERS: The Sri Lankan rupee snapped a six-session winning streak to end lower yesterday due to importer dollar demand, but greenback inflows from inward remittances ahead of the traditional new year capped further decline, sources said.

The National Chamber of Commerce of Sri Lanka (NCCSL) yesterday said the ongoing power cuts are causing massive inconvenience to the country’s businesses, specially to the small and medium industries.

It was a solemn occasion. The dons at the Colombo University and its alumni association members were gathered for the 15th Annual Sujata Jayawardena Memorial Oration, at the BMICH in Colombo. The orator was none other than MillenniumIT-fame Tony Weer

The United Kingdom is one of the major trading partners of Sri Lanka, amounting to over 10 percent of the total annual trade. The trade between the two countries has been on the upsurge for the last 18 years. In this context, the GSP Plus scheme und

Close to five years in business, Cargills Bank has formally begun work towards a listing on the Colombo Stock Exchange (CSE) next year. “Work towards listing the bank on the Colombo Stock Exchange has commenced and is scheduled to reach completion

Tourism Development, Wildlife and Christian Religious Affairs Minister John Amaratunga is to seek Cabinet approval for the Terms of Reference (TOR) of the three-year global tourism promotional campaign next week, to begin the tendering process to sel

First Capital Research predicts a 50 percent chance for a policy rate cut at the next monetary policy review of Central Bank to be held next week amidst overly sluggish economic growth. “First Capital Research allocates a 50 percent probability for

(Colombo) REUTERS: The Sri Lankan rupee closed firmer yesterday as more foreign investors purchased government securities, while inward remittances remained high ahead of the traditional New Year celebrations, market sources said. The currency exten

While affirming Dialog Axiata’s ‘AAA(lka)/Stable’ rating, Fitch Ratings yesterday said the market leading telco has sufficient headroom to undertake a debt-funded acquisition of a smaller operator.

The proposed issue of Basel III-compliant subordinate unsecured debentures totaling up to Rs.15 billion by Commercial Bank of Ceylon PLC has been rated ‘AA-(lka) (EXP)’ by Fitch Ratings. The rating is one notch below the ba

(Colombo) REUTERS: The Sri Lankan rupee closed firmer for a fifth straight session yesterday, helped by dollar inflows from inward remittances ahead of the traditional new year celebrations, market sources said, while stocks ended higher.

Sri Lanka’s unemployment rate rose to 4.6 percent at the end of last year, as the employment in the country’s industry and agriculture sectors declined despite the stagnation in the labour force participation rate, driven by a marked decrease in

Sri Lanka’s bank credit extended to the private sector has fallen in January by Rs.4.3 billion, recording a reversal roughly in five years, as the higher credit costs and weakening asset quality left the lenders at bay while the borrowers postponed

AIA Insurance Lanka PLC yesterday said it will delist the company’s shares from the official list of the Colombo Stock Exchange (CSE) in compliance with the applicable regulations and procedures, while at the same time reaffirming its commitment to

While the ultimate long-term objective should be to abolish the Grade Five Scholarship Examination, at the moment, Sri Lanka is not ready for such drastic action, an education policy researcher at the Institute of Policy Studies (IPS) recently said.

Sri Lanka’s move in February 2019 to bring back capital punishment for convicted drug offenders has put a spotlight on the growth of narcotics-related crime in the country. The government’s apparent tough stance is in response to concerns that Sr

In recent years, with the continuous improvement of the economic and trade cooperation between China and Sri Lanka, Chinese enterprises have made leaps and bounds in their investment in Sri Lanka and signed contracts to invest in large-scale projects